With high rental yields, low comparative property prices and an escalating rental market, Glasgow has emerged as one of the UK’s most lucrative locations to invest in buy to let property, reveals Central Letting Services. According to the leading Scottish lettings agent current Glasgow housing conditions have fostered a mutually beneficial situation for both buy to let landlords and tenants.
In late 2014 Mortgage Advisor Glasgow released a poll which saw Glasgow properties top a national countdown, with rental yields averaging 4.95%. Yet despite high rental returns the average property price sits at £126,000, over £62,000 less than the national average. Thanks to affordable housing prices and high rental yields, buy to let landlords have been able to kick-start or expand portfolios. This has led to a greater choice of rental homes for Glaswegian tenants and healthy competition for rental rates. As a result the local population is showing a growing preference for rental accommodation, which supports the buy to let market and allows tenants to take advantage of affordable rent.
Ayaz Bhatti, property manager at CLS said, “The current market is favourable towards buy to let landlords however the benefits are also filtering down to the pockets of their tenants. Competition is healthy which means that landlords enjoy good returns, tenants enjoy affordable rent and the property market as a whole continues to thrive.”
The leading Scottish lettings agent is at the vanguard of the rental revolution with its customer focussed service and affordable pricing structure. Locally referred to as the ‘letting experts,’ CLS is fronted by a team of real estate experts with a minimum of five years experience in the lettings industry.
As a destination, Glasgow has earned itself a reputation as one of the UK’s most dynamic and diverse metropolises. It’s Scotland’s largest city, the fourth largest in the UK and boasts an internationally-acclaimed collection of museums, galleries, architecture, nightlife, shopping and restaurants. Each area exudes its own unique character and charm which continues to draw in visitors and long term residents from across the globe. As an independent Glaswegian company CLS has a thorough appreciation for the city’s heritage and what makes each of its districts so distinctive. Armed with this insight the team is able to help buy to let landlords find the perfect tenant.
Seema Bhatti, Operations Manager said, “There is no great mystery to letting property. It’s knowing how to be a good listener, how to deal with all kinds of people, and being fair. It’s about exercising common sense, fixing things that go wrong, keeping promises and keeping people happy. Like we said, there is no great mystery. But you have to know what you are doing, and love doing it. And that is what CLS is really all about.”
With a retention rate that sees 82% of tenants remain in properties for over one year, CLS clients can rest assured that they are leaving their properties in the hands of the experts.